Petroleo Brasileiro Petrobras SA (ADR) (PBR) Corrupt Contractors May Be Offered Leniency Arrangements By Brazil.
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Brazil government may extend leniency arrangements to contractors involved in the Petrobras corruption scandal.
As Brazil’s economy is plagued by the multi-billion dollar corruption at the country’s biggest oil producer Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), the government may offer bargain deals to local contractors in attempts to reignite economic activity, officials claim.
Petrobras has been surrounded in a corruption scandal since March 2014, as federal prosecutors accused former company executives of working with a cartel of construction firms. Charges brought against the suspects include corruption, bribery, and money laundering.
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